|
Five triple-A bonds issued in October marked the birth of a competitor to Germany’s euro Pfandbrief market. Three of them, issued by a specially created bank called Compagnie de Financement Foncier and together raising e5.2 billion, were collateralized by a portfolio of mortgages. The other two bonds, of e1.25 billion each, were backed by loans to French local government. Their issuer was Dexia Municipal Agency (DexMA), another freshly established institution. Behind the first issuer stood Crédit Foncier de France (CFF), the country’s largest mortgage lender. |
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
